Tolar HashNET (TOL)

Overview

Tolar is an open source, community governed cryptocurrency featuring scalable, fast, secure, and fair transactions.

Project stage

Prototype

Detailed description

HashNET is a scalable, fast, secure, and fair decentralized- beyond blockchain project, leveraging Distributed Ledger Technology (DLT) and consensus algorithm which keeps all positive characteristics of a blockchain technology while increasing throughput to more than 200,000 transactions per second. Network is using Proof-of-Stake with masternodes, which eliminates the need for a massive energy consumption.

HashNET is scalable. Scalability is the biggest problem in the blockchain technology space. Projects like Bitcoin and Ethereum are simply not capable of transferring a large number of blockchain transactions in a short timeframe. HashNET, on the other hand, was built to support over 200,000 transactions per second, compared to Bitcoin, which can only manage 7 transactions per second. Also, even with a large increase in number of nodes, HashNET network will be able to process all transactions in a matter of seconds.

HashNET is fair, because no individual can manipulate the order of transactions. With HashNET, there is no way for the individual to affect the consensus order.

HashNET is fast, because it doesn’t require miners to create a chain of blocks in order to record transactions. This process of creating a chain of blocks is very slow and it consumes a large amount of electricity. HashNET uses Proof-of-Stake algorithm combined with masternode to reach distributed consensus. The process of receiving and recording occurs as soon as transaction takes place, which allows the final confirmation to be ready instantly.

HashNET is 100% secure. HashNET can’t be hacked due to the power of distributed algorithm, which is responsible for reaching consensus within the nodes. Also, combining Proof-of-Stake and masternode creates transparency, since the participants are compensated for correct voting.

Problem

The arrival of the blockchain technology introduced the world of decentralization, therefore, challenging our preconceived perspectives of the current social, political, and economic systems, most notably, the central banking system. This technology, however, does have several shortcomings regarding performance, ease of use, and service quality.

Solution

HashNET consensus uses "redundancy reduced gossip" and "virtual voting" protocols based on a distributed computation and algorithms from theoretical computer science which provides a fair and fast, byzantine fault tolerant consensus algorithm. It is a new consensus substitute platform inspired by the innovative development of Hashgraph methodology, and is designed to run on a non-permissioned (public) network thereby reaching a larger community.

Features

Transparency of fundAllocation of community funds and voting process is 100% transparent

SpeedNetwork’s Throughput can process 200,000 transactions per second

Mobile compatibleHashNET can be run as full node even on smartphone

Ability to growEasily scales with number of users

Completely decentralizedEvery participant can contribute by voting

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Additional links

Token details

Token symbol
? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. :TOL

Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 45,000 ETH

Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Ethereum (ERC20)

Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. :20,000 ETH

Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Currency token

Total supply ? Total supply — a total amount of tokens that will be released by the developers. :1,000,000,000 TOL

Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No

Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :350,000,000 TOL

Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Open

Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No

Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA

Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :BTC, ETH, FIAT,

Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :China, USA,

Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes

Activity

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